14 DAY TRIAL // John McAfee, the founder of the McAfee antivirus company, which he later sold to Intel, is suing the latter for the right to use his name for another firm.
John McAfee sold his company to Intel for $7.68 billion in 2011, when McAfee was one of the top antivirus vendors on the market.
Following a diminishing market share and the public scandal surrounding various charges pressed against John McAfee in Belize and Guatemala, Intel decided to rename the McAfee brand to Intel Security in early 2014.
The eccentric billionaire, who was one of the biggest Intel critics for the way they were managing his former company, welcomed the decision with a smile on his face.
John McAfee wants to use his name to rebrand MGT
Two years later, McAfee is now suing Intel for the right to use his name for another company, more specifically, to rebrand MGT Capital Investments Inc. to John McAfee Global Technologies, Inc..
McAfee's role with the new company is Executive Chairman and Chief Executive Officer, and according to the company's website, "MGT Capital Investments, Inc. (NYSE MKT: MGT) is in the process of acquiring a diverse portfolio of cyber security technologies," showing a clear intent to do business in the same field as Intel Security, formerly McAfee.
When Intel heard of McAfee's plans this past June, the chipmaker threatened to sue MGT if they went ahead with their rebranding.
McAfee does not own the McAfee trademark
According to the United States Patent and Trademark Office, Intel holds the McAfee trademark, which they acquired in the 2011 deal (Registration No. 1818780, filing date December 21, 1992).
McAfee's side wants the judge to allow them to use the McAfee's name for the new company, as an exception for the trademark, because "no sufficient and adequate alternative means to the use of McAfee’s own personal name in his own company exist." The lawsuit was filed Friday, on September 2.
Intel is in the process of selling the Intel Security (formerly McAfee) brand, for which it has been having negotiations for the past months.